Noida Gr Noida Expressway: A hotspot for commercial reality

DELHI: Noida-Greater Noida Expressway, which further connects to the 165km-long Yamuna Expressway, is still a favourite destination for commercial realty projects. Improving infrastructural development and fast connectivity offer great scope for real estate development here and the area is coming alive with luxury hotels, office space, retail outlets, and shopping malls.

The rapid development of commercial projects makes perfect business sense for corporates, even entrepreneurs, wanting to make a smart move to Noida Expressway.

All credit for this is due to the policies of the Noida authority, which adopted policies conducive for the development of office space as part of commercial activities in various sectors of Noida Expressway. The Noida Industrial Development Authority has declared Sectors 94, 96, 97, 98, 105, 108, 124, 125, 126, 127, 132, 135, 136, 142, 143, 144, 153, and 154 open for commercial activities.

Most of these sectors along Noida Expressway are being developed with institutional and office facilities that will house a large number of commercial set-ups which would open up employment opportunities.

A number of commercial properties like BPTP Capital City in Sector 94, HCL’s huge SEZ in Sector 125-126, Express Trade Towers, Adobe and Logix Technova in Sector 132, Unitech Infospace in Sector 135, 3C’s Oxygen, Unitech’s new SEZ in Sector 144, Advant Navis in Sector 142, Bhasin Group’s Mist Avenue in Sector 143, Urbtech’s NPX in Sector 153, etc, have been launched here. These properties are very valuable as they have the potential to give very good returns to investors and buyers.

Why Noida Expressway

The whole belt along the expressway has seen a sea change with world-class facilities and infrastructure sprouting all over the place, and connectivity getting a leg up with the opening of the 165km-long Yamuna Expressway (Delhi to Agra).

The boundaries of Noida-Greater Noida have extended to new places and helped commercial projects come up on these developing sectors. These commercial activities in turn pushed for the development of the housing sector, cutting across segments, from affordable to mid-segment and right up to luxurious residential projects, all of which come with high technology and worldclass facilities.

Rise in demand for office space

A report says that the NCR is the largest office market in the country with an operational stock of 118 million sq ft, of which 93 million sq ft is occupied; the vacancy level is at 21% of the total stock.

The developing sectors of Noida-Greater Noida Expressway still continue to be the preferred locations for occupiers. If we consider Gurgaon and Noida regions too, both these markets have claimed nearly 90% of the total transacted space during January-September 2013. Their share has been moving upwards with each passing year, primarily due to ample available office space with affordable rentals.

The NCR, including Noida-Greater Noida Expressway market, is expected to see fresh office supply to the tune of 34 million sq ft in the next four years.

Top commercial projects

Supertech Group has launched Supertech Supernova, which offers office space, luxury hotels, premium and luxury retail brands, serviced apartments, and luxury residences. This is one of the biggest projects in north India, with mixed-use development over 5 million sq ft.

RK Arora, CMD of Supertech Ltd, says: “This project has been designed by prominent architects and consultants, who are working to offer world-class facilities with long-lasting designs. Supernova is a residential and commercial community with two luxurious hotels, premium and luxurious retail brands offices, deluxe residences, fully-furnished serviced apartments, free entry and exits for all verticals, etc.”

BPTP is developing Capital City, an integrated commercial project on 14.7 acres in Sector 94, Noida Expressway. Capital City is a self-contained integrated business district, strategically located on Noida-Greater Noida Expressway.

Sandeep Bedi, director of BPTP, says: “We are developing Capital City not just to match world standards, but to set a benchmark for the world to follow. This unique business district offers seamless fusion of work places with leisure space. It will have state-of-theart office spaces, premium residences, global retail outlets, and a 5-star deluxe hotel, all in one place. It’s a perfectly integrated business district.”

Unnati Fortune Group has launched Unnati Fortune World in Sector 144, Noida Expressway; this project offers high street premium retail, premium residences, 5-star luxury hotels and Medifloors. The forthcoming Medifloors is an investment opportunity, especially for doctors, in the heart of corporate and residential developments along Noida Expressway.

Anil Mithas, MD of Unnati Fortune Group, says: “The developing project is a mixed-use property over 25 acres of planned green expanses; it is one of the finest and most luxurious mixed-use commercial developments along the Noida Expressway comprising high-street retail, futuristic office spaces, premium residences, a luxury 5-star hotel, an amphitheatre, and world class recreational facilities like the forthcoming artificial lake, one of the largest in north India.”

Assotech Realty has Assotech Business Cresterra, a commercial project on the expressway. It will include highrise offices, four-star-level serviced residences, Sandal Suites, and a high-street retail store, Sandal Street.

Neeraj Gulati, MD of Assotech Realty, says: “The construction and management of the project will be made on the guidelines of LEEDS Gold Certification and will focus on the performance in five key areas sustainable site development, energy efficiency, water savings, materials selection, and indoor environmental quality.”

Cosmic Group is developing a number of commercial projects like Cosmic Corporate Park, Cosmic Corporate Park 140, Cosmic Corporate Park 154, and Cosmic Cruise. These projects are spread across several acres with office space, IT plots, studio apartments, all coming with seven-star facilities.

Improved infrastructure has been a major boon for Noida-Greater Noida; new flyovers, DND Expressway and Noida-Greater Noida Expressway, along with wide city roads, only add to the lustre of the place.

The proposed Metro link and international airport will make perfect business sense for corporates planning to move into the area.

Latest Realty News

NOIDA: With the overall real estate activities seeing a low in the Delhi-NCR region, many Noida-based building demolition contractors are also feeling the heat. The standalone demolishers stated declining business, spike in the running cost and competitive market to be primary reasons.

NOIDA: Hundreds of residents took to streets on Wednesday demanding 'free-hold' status on their properties against 'lease-hold' as of now. The protesters gathered outside the Sector 6 office of Noida Authority as the deadline given by the Federation of Noida RWAs (FONRWA) for conversion of land rights expired on January 15.

MUMBAI: The real estate sector, which showed sluggish business during the last year, has a lot of expectation from the year 2014. Though the players in Millennium City admit that they are expecting the growth only after the general elections, scheduled to be held in May, but still they are hopeful that their business will recover and will see new highs this year.

DELHI: The Cabinet Committee on Economic Affairs has approved the utilisation of Japanese assistance under the Japan International Cooperation Agency (JICA) through Special Terms for Economic Partnership (STEP) of Japanese official development assistance loans for the Delhi Mumbai Industrial Corridor (DMIC) project and the operational rules, terms and conditions of this tied loan facility.

GURGAON: Gurgaon is expected to witness significant number of lease renewals in office spaces 2014 and 2015 as companies that had set up offices in 2004 - 2006 are approaching the end of their lease terms .